WM Motor moves to $446m series C

Electric vehicle producer WM Motor has received $446m in a Baidu-led round that will be used to enhance its core technology and drivng experience.

Internet group Baidu led a RMB3bn ($446m) series C round for China-based smart electric vehicle manufacturer WM Motor today, China Money Network reported. Chinese government-backed fund-of-funds Taihang Industrial Fund and venture capital firm Linear Venture also participated in the round. WM did not disclose a valuation, but reports in October 2018 suggested it was set…

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